The anticipation for the Target + Neiman Marcus Holiday Collection has been high, and last night, the two mega brands finally released the affordable goods at a celebratory pop-up shop. ELLE.com caught up with some of the fashion designers and celebrities in attendance

"I think it's wonderful for everybody," Diane von Furstenberg told ELLE.com. "It's great for Neiman Marcus, it's great for Target. It shows that both are very modern, and I'm glad that the CFDA was able to create that marriage. It also says that taste is not about money."

"All of these voices are uniting because they're figuring that they should have done this a long time ago—that there is such a thing as creating luxurious, great things and selling them at affordable prices," she noted.

Kate Bosworth was spotted pairing a Prabal Gurung clutch from the line with a satin peplum Emilio Pucci dress. "It's a really exciting partnership," she said. "There's so much talent in American design right now. I think the more people that see it, the better."

More From ELLE

Naturally, a hot topic of the night was dressing during the holidays. Girls actress Allison Williams, outfitted in a Marc Jacobs scarf design, opts for comfort. "You can wear really cozy things—they've given up on calling it 'not chic,' and they're like, 'Fine, you win, a chunky sweater is chic,'" she said.

Nevertheless, for many of the night's celebrated designers, such as Stacey Bendet of Alice + Olivia, festive, fancy attire is preferred. "Anything goes," said Bendet. "You can wear a ball gown out to dinner. Or I can. [Laughs] I do." According to Brian Atwood, "You can wear velvet jackets and patent-leather shoes."

Keren Craig, who along with design partner Georgina Chapman, adapted one of their whimsical Marchesa dresses into a child-size version. "I've only wanted to wear party dresses ever since I was a kid," shared Craig. "It's just so much fun to dress up. And, I'm not the only one overdressed." [Laughs]

As a designer who has always had a penchant for flair, Tracy Reese also sung the season's praises. "The holidays just give you a reason to dress up and enjoy yourself," she said. "The way you look gives pleasure to others and to yourself, so if anyone ever needed an excuse, this is the perfect one."

The Target + Neiman Marcus Holiday Collection ($7.99–$499.99) launches nationwide December 1st at Target and Neiman Marcus stores, as well as target.com and neimanmarcus.com.